CBL Properties Announces Crunch Fitness Set to Open at Hamilton Place in Chattanooga, Tennessee

Rhea-AI Summary

CBL Properties announced the opening of Crunch Fitness at Hamilton Place in Chattanooga, Tennessee, marking the completion of the Sears redevelopment project initiated in 2019. The project has brought various new destinations including The Cheesecake Factory, Dave & Buster's, DICK'S Sporting Goods, and an Aloft hotel. In 2024, Hamilton Place welcomed over 110,000 square feet of new retail and restaurants, including eight new establishments such as Texas Roadhouse, Malone's, and Miniso. The property has experienced growth in both traffic and sales, with additional openings planned for 2025.

Positive

• Successfully completed Sears redevelopment project with multiple new tenants
• Added over 110,000 square feet of new retail and restaurant space in 2024
• Experiencing growth in both traffic and sales
• Secured eight new retail and restaurant tenants in 2024

Negative

• None.

Insights

Market Research Analyst

The redevelopment strategy at Hamilton Place demonstrates strong execution of CBL's anchor transformation initiative. The diverse tenant mix, including fitness, dining, retail and hospitality, creates a more resilient revenue stream compared to traditional mall dependency on department stores. The addition of 110,000 square feet of new retail and restaurants in 2024 signals robust leasing momentum.

The project's success is evidenced by reported increases in both foot traffic and sales, important metrics for mall performance. The mix of national brands (The Cheesecake Factory, Dave & Buster's) alongside local concepts (Mean Mug Coffeehouse) creates a balanced tenant portfolio that appeals to various consumer segments. The 2025 pipeline suggests continued growth potential, indicating sustained demand for space at the property.

More than 100k square feet of new retail and restaurants open on campus in 2024

CHATTANOOGA, Tenn.--(BUSINESS WIRE)-- CBL Properties (NYSE:CBL) today announced Crunch Fitness opens at Hamilton Place in Chattanooga, Tennessee, today, as one of the final components of the property’s Sears redevelopment project. The redevelopment, which commenced in 2019, brought a variety of new destinations to the property, including The Cheesecake Factory, Mean Mug Coffeehouse, Malone’s, Dave & Buster’s, DICK’S Sporting Goods, and an Aloft by Marriott hotel.

“Our proactive approach to anchor redevelopment allowed us to thoughtfully execute a transformative project at one of our top properties,” said Stephen Lebovitz, chief executive officer, CBL Properties. “Crunch Fitness adds yet another new use to the campus and comes on the heels of the successful and highly anticipated opening of Malone’s.”

Lebovitz added, “2024 has been an exciting year for Hamilton Place as we’ve welcomed more than 110,000 square feet of new restaurants and retail to the campus.”

Since March, eight new retailers and restaurants have opened at Hamilton Place, including Taco Mamacita, Texas Roadhouse, Mr. Cow, Malone’s, Miniso, Vintage Stock, Dry Goods, Shoe Station, as well as a newly remodeled and expanded Buckle store.

“It’s exciting to see the growing number of retailers and restaurants that have decided to invest in the rapidly expanding Chattanooga market by opening at Hamilton Place,” commented Lebovitz. “Customers have responded positively to the new additions, reflected by sustained growth in both traffic and sales.”

Additional openings are expected in 2025, with more details to be announced as plans are finalized.

About CBL Properties

Headquartered in Chattanooga, TN, CBL Properties owns and manages a national portfolio of properties located in dynamic and growing communities. CBL’s owned and managed portfolio is comprised of 91 properties totaling 57.1 million square feet across 21 states, including 55 high-quality enclosed malls, outlet centers and lifestyle retail centers as well as more than 30 open-air centers and other assets. CBL seeks to continuously strengthen its company and portfolio through active management, aggressive leasing and profitable reinvestment in its properties. For more information visit cblproperties.com.

CBL_Prop

View source version on businesswire.com: https://www.businesswire.com/news/home/20241030660972/en/

Investor Contact: Katie Reinsmidt, Executive Vice President & Chief Operating Officer, 423.490.8301, Katie.Reinsmidt@cblproperties.com

Media Contact: Stacey Keating, Vice President– Corporate Communications, 423.490.8361, Stacey.Keating@cblproperties.com

Source: CBL Properties

FAQ

What new businesses opened at CBL's Hamilton Place mall in 2024?

In 2024, Hamilton Place welcomed Taco Mamacita, Texas Roadhouse, Mr. Cow, Malone's, Miniso, Vintage Stock, Dry Goods, Shoe Station, and Crunch Fitness, plus a remodeled Buckle store.

How many square feet of new retail space did CBL Properties add at Hamilton Place in 2024?

CBL Properties added over 110,000 square feet of new retail and restaurant space at Hamilton Place in 2024.

When did CBL Properties begin the Sears redevelopment project at Hamilton Place?

CBL Properties began the Sears redevelopment project at Hamilton Place in 2019.